Starbucks (NASDAQ:SBUX) Coverage Initiated by Analysts at Citigroup

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Citigroup started coverage on shares of Starbucks (NASDAQ:SBUX) in a research report report published on Wednesday, Benzinga reports. The firm issued a buy rating and a $83.65 price target on the coffee company’s stock.

Several other equities analysts have also commented on SBUX. Zacks Investment Research upgraded shares of Starbucks from a hold rating to a buy rating and set a $86.00 price objective on the stock in a report on Wednesday, May 15th. Wedbush reaffirmed a hold rating and set a $70.00 target price on shares of Starbucks in a research note on Thursday, April 18th. Oppenheimer upped their target price on shares of Starbucks from $72.00 to $81.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. Evercore ISI assumed coverage on shares of Starbucks in a research note on Tuesday, June 11th. They set an in-line rating and a $82.00 target price on the stock. Finally, BidaskClub downgraded shares of Starbucks from a strong-buy rating to a buy rating in a research note on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Starbucks currently has an average rating of Buy and a consensus price target of $77.19.

NASDAQ:SBUX opened at $83.38 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 7.73. The firm has a market cap of $102.04 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 2.36 and a beta of 0.50. The company has a 50-day moving average price of $79.83. Starbucks has a 1-year low of $47.37 and a 1-year high of $85.20.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same period in the previous year, the business posted $0.53 EPS. Starbucks’s revenue was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Starbucks will post 2.78 EPS for the current year.

In related news, EVP Lucy Lee Helm sold 10,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $83.00, for a total value of $830,000.00. Following the transaction, the executive vice president now directly owns 113,455 shares of the company’s stock, valued at approximately $9,416,765. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $76.12, for a total transaction of $759,144.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,910 shares of company stock worth $6,578,788. Insiders own 3.98% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Community Bank N.A. boosted its stake in Starbucks by 2.1% during the 1st quarter. Community Bank N.A. now owns 6,783 shares of the coffee company’s stock worth $504,000 after purchasing an additional 140 shares during the period. Kistler Tiffany Companies LLC boosted its stake in Starbucks by 1.5% during the 1st quarter. Kistler Tiffany Companies LLC now owns 9,461 shares of the coffee company’s stock worth $703,000 after purchasing an additional 142 shares during the period. Orrstown Financial Services Inc. boosted its stake in Starbucks by 1.2% during the 1st quarter. Orrstown Financial Services Inc. now owns 12,844 shares of the coffee company’s stock worth $955,000 after purchasing an additional 147 shares during the period. Shamrock Asset Management LLC boosted its stake in Starbucks by 2.0% during the 1st quarter. Shamrock Asset Management LLC now owns 8,230 shares of the coffee company’s stock worth $612,000 after purchasing an additional 162 shares during the period. Finally, Old North State Trust LLC boosted its stake in Starbucks by 20.6% during the 1st quarter. Old North State Trust LLC now owns 991 shares of the coffee company’s stock worth $73,000 after purchasing an additional 169 shares during the period. 71.60% of the stock is currently owned by hedge funds and other institutional investors.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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